Latest Articles

  • SEC Shuts Down Alleged Ponzi Schemer Who Said Investors Will Never Suffer Loss

    By:
    Chris Gaetano
    |
    Mar 26, 2018
    The Securities and Exchange Commission shut down an alleged Ponzi scheme run by a man who it believes swindled investors out of $250,000 by telling them that they will incur absolutely no losses before then proceeding to incur massive losses. 
  • Industries With Most Turnover Include Finance, Professional Services

    By:
    Chris Gaetano
    |
    Mar 26, 2018
    Finance and professional services businesses rank among the highest in terms of staff turnover, according to an examination of LinkedIn data. 
  • SEC Takes Aim at Cryptocurrency Hedge Funds

    By:
    Chris Gaetano
    |
    Mar 23, 2018
    The Securities and Exchange Commission plans to examine as many as 100 cryptocurrency-based hedge funds as part of a larger effort to make the notoriously anarchic market a little less Wild West. 
  • Credit Bureaus to Remove Tax Liens From Credit Reports

    By:
    Chris Gaetano
    |
    Mar 23, 2018
    Equifax, Experian and TransUnion, the three major credit reporting companies, will no longer list tax liens on Americans' credit reports. 
  • IRS, State Tax Agencies Warn of Scam Targeting Tax Professionals

    By:
    Ruth Singleton
    |
    Mar 22, 2018
    The IRS, state tax agencies and members of the tax industry are warning about a "new client" scam targeting tax professionals. According to the IRS, in this scam, a supposed “new client” emails the tax pro about a tax issue, attaching documents to the email that the sender claims to be an IRS notice or prior-year tax information. The documents actually contain malware that, if opened, enable the criminals to steal taxpayer information.
  • Typo Costs Oil Company $3B

    By:
    Chris Gaetano
    |
    Mar 21, 2018
    Formosa Petro, a Taiwanese oil giant, lost $3 billion in in market value after a "fat finger" error mistakenly caused the company to open a 15.2 million-share closing auction. 
  • EU Wants Tech Firms to Pay 3 Percent Tax on Revenue

    By:
    Chris Gaetano
    |
    Mar 21, 2018
    Tech companies like Facebook and Google could face major tax hits if a proposal by the European Commission (The EU's executive body) is approved: a 3 percent tax on revenue.
  • New Tax Law Makes Player Trades Harder for Professional Sports Teams

    By:
    Chris Gaetano
    |
    Mar 20, 2018
    The New York Times has pointed out that a provision of the Tax Cuts and Jobs Act, passed by the Republicans in December, could have the inadvertent effect of making player trades harder for professional sports teams. 
  • Poll Finds Less Misconduct, More Retaliation Against Those Reporting Misconduct

    By:
    Chris Gaetano
    |
    Mar 20, 2018
    A survey of 5,000 employees in late 2017 has found that, on the one hand, people are witnessing fewer instances of ethical misconduct at their firms but, on the other, people are also reporting more retaliation against those who report misconduct. 
  • Regulatory Roundup - March 14-20

    By:
    Chris Gaetano
    |
    Mar 20, 2018
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYSSCPA’s regular series that collects relevant regulatory ‚Äč‚Äčannouncements from the past week, and puts them in one place to help you stay on top of the issues.